The cryptocurrency evaluation platform Bubblemaps has shared some noteworthy knowledge about BRENT, one of many memecoin tasks that has been quickly rising just lately.
The token, impressed by Brent crude oil and rising world power costs, is alleged to have a excessive focus in its provide.
In line with Bubblemaps knowledge, roughly 70% of the BRENT provide is held by new wallets funded by centralized exchanges (CEXs). Evaluation revealed that greater than 50 wallets have been funded by exchanges earlier than the token’s market capitalization surpassed $10 million.
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These wallets share some notable frequent traits. It was acknowledged that these addresses had no prior transaction historical past, obtained related quantities of SOL transfers, and bought a big portion of the BRENT provide. Moreover, it was added that almost all of those transactions occurred on March thirtieth, inside a really quick timeframe.
In line with knowledge shared by Bubblemaps, the wallets in query made simultaneous purchases inside minutes of roughly 00:40 UTC+3 on April 1st, simply minutes earlier than the token worth surged about 250 occasions. This raised suspicions that the worth motion is likely to be linked to an organized shopping for course of.
The evaluation platform acknowledged that it’s not but identified who controls these wallets, and that investigations into the matter are ongoing.
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